Martoma Deserves More Than 8 Years in Prison, U.S. Says
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Former SAC Capital Advisors LP portfolio manager Mathew Martoma, convicted of orchestrating the most lucrative insider trading scheme in U.S. history, should spend more than eight years in prison, prosecutors told the judge who will sentence him next month.
Martoma, 40, “cultivated and corrupted” two doctors to obtain inside information on clinical tests of a drug to treat Alzheimer’s disease, prosecutors in the office of Manhattan U.S. Attorney Preet Bharara said yesterday in court papers. Martoma made $275 million for SAC and a $9.3 million bonus for himself, they said.